Why do people accept credit anf then not pay it back?

Question

Don;t they realize that comapnies don't eat those costs, they pass it on to the rest of us who responsibly pay our bills?

Answer 1

I got two credit cards and paid them well for 2 years then I got a divorce and my daughter got diagnoses with Juvenal diabetes in one year and then 6 months later I lost my job I had no medical insurance for my daughter ( she was from a different father) It was either buy my daughters insulin.test strips,meters etc or pay my C/C..diabetes is a VERY expensive disease to treat w/o insurance and I had to pay for my lawyer..my bills got ahead of me I would of never let my bills go so far behind..I was am still extremely embarrassed of that situation..but in less you walk on water you should not preach you never know what lies ahead of you. god bless

Answer 2

Well, sure the majority of the poplulation that those not pay their credit card bills are those who view credit as
"earned income".

But there are some in the mix that ended up not paying their bills because of changes in circumstances. Like they simply lost thier job or lost their higher paying job and now have a job that doesnt pay as much and they hardly make ends meet. Lost a family member or loved one and it knocked them off their feet. Some debtors are in rehab and others came out with some horrific disease or illness.

$hit happens and they didnt want it to but it did and so it worked out that way. Cant always say that they are trying to rip off creditors. It really all depends.

As far as the company eating the costs...na. They just do what they can to get their lost money back. If they cant than they take their write-offs. Some even have insurance for larger accounts.

There is good and bad in every group of people. Consumers, creditors and bill collectors all the same.

Answer 3

Amen to what YSIC and smile4cobra said. They touched on both aspects of why people extend credit and don't pay it back. On one hand, you have people that have the best intentions in mind and an unfortunate circumstance happens to where they're unable to start what they finished. And on the flip side, you have people that try to "keep up with the Joneses" for that "instant gratification" and don't take credence to the fact that they're not only making it harder for themselves, but everyone else indirectly. It's a classic case of people's "eyes being bigger than their stomachs", hence people live WAY beyond their means. And then they perpetuate the cycle by creating more debt to pay off old debt. And then finally once it's gotten completely out of hand, they wave the white flag, file bankruptcy only to get a "get out of jail free card" for what they owed. That's why it's so important that credit is a tool, not a crutch. And while it's prudent to live debt free trying never to rely on credit so much, it's more prudent that if you do, it must be used responsibly.

Answer 4

Several factors. First is many think its cool to have a credit card. Its not, its a big pain, and once you use up the limit, then you gotta pay. Second is the credit card rip off sales pitch that hook too many gullable dolts into their trap. They offer these low introductory rates then as soon as you sign up, they change the rules, the rates go up and the terms are altered. My advice is to tell the credit card banks to stowe their cards where the sun don't shine. Use cash for everything. If you need to buy something large, get a loan with a fixed rate and term. Thats the only way to know exactly where you stand.

Answer 5

There's this phenomenon called instant gratification that has consumed Americans. People are obsessed with material possessions and they want it all - either now or yesterday.
To answer your question, no. They couldn't care less that someone else has to pay for their mistake when they default. It's all about *things*.

Answer 6

Why why why. You just must be perfect there. Wait til things actually start happening in your life then you'll understand people and why things happen the way they do. It's called life.

Answer 7

they suffer I do not I pay on time Pluys i get cash back!!
I make money!!!!
It pays to have great credit

Answer 8

no they dont care...welcome to the future of america without morals.....everyone today only cares for themselves and not the outcome of theri actions..everyone thinks they "deserve" things for one reason or another..but fail to send them their monthly welfare check and all hell breaks loose.

Answer 9

Oh well